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CLASS

Ferretti focuses on Taranto for the shipyards

May 21, 2020


Abstract : Ferretti yachts are focusing on Taranto for the new shipyard hub.

MILAN, May 20 (Class Editori) -- Ferretti yachts are focusing on Taranto for the new shipyard hub. "The settlement of Ferretti group in Taranto would represent a great development opportunity for our territory and an economic reconversion for our business fabric", as Mario Turco, the undersecretary to the Presidency of the Council with an investment delegation, has stated.

Already at the beginning of April, the Government spokesperson had a meeting with Alberto Galassi, the CEO of Ferretti Group regarding the assessment of measures aimed at supporting the nautical sector. The proposals concern a production hub addressed to the construction of hulls and superstructures in fiberglass and carbon and a research centre dedicated to the study of models and moulds in the former shipyard area Belleli, which during the 1980s and 1990s was used for the inauguration of oil platforms.

Unused for years, it was then inserted in the Sin area of Taranto; the safety of the area had to be secured before being reused for production or port purposes. A solution, namely the arrival of Ferretti, favourably seen by Confindustria but not by the right-of-centre opposition; criticisms have arisen concerning the entry of Chinese investors in the Italian port infrastructures.

Among the group plans, there is also the purchase of a production plan in the Tyrrhenian Sea. Despite the failure of Piazza Affari achievement last autumn, the group has not stopped its development. The group closed 2019 with a production value amounting at 698.4 million euros (up 4.4 percent compared to last year), 649 million revenues (up 6.5 percent) and an adjusted EBIDTA of 62.2 million (up 16.3 percent).

In the 2021 business plan, there are 27 models in the pipeline for all the group brands, which rose up to eight thanks to the purchase of (only) Wally brand, already owned by Luca Bassani: a final transaction obtained through insolvency proceedings at the Luxembourg Court.

At least since 2009, Weichai group has launched a global developing strategy which, together with Ferretti (a company which, apart from the namesake brand, owns inside its portfolio brands such as Riva and Pershing) has been focusing on the acquisitions of Baudouin in France, Kion and Linde Hydraulics in Germany, Dematic and PSI in the United States, Ceres in England and Ballard in Canada, by reaching a global turnover of 31 billion euros.

(Source: Class Editori)

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Keyword: Ferretti Taranto shipyards

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